Adicet Bio (NASDAQ:ACET) Earns Sell (E+) Rating from Weiss Ratings

Adicet Bio (NASDAQ:ACET)‘s stock had its “sell (e+)” rating reiterated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms also recently commented on ACET. Guggenheim upped their price objective on shares of Adicet Bio from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday. HC Wainwright raised shares of Adicet Bio to a “strong-buy” rating and set a $4.00 price objective on the stock in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.67.

Adicet Bio Trading Down 1.6%

NASDAQ:ACET opened at $0.91 on Wednesday. Adicet Bio has a 12 month low of $0.45 and a 12 month high of $1.54. The firm has a fifty day simple moving average of $0.76 and a 200-day simple moving average of $0.71. The company has a market capitalization of $76.11 million, a P/E ratio of -0.70 and a beta of 1.62.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). Equities analysts forecast that Adicet Bio will post -1.39 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

Several large investors have recently made changes to their positions in ACET. Wealthedge Investment Advisors LLC lifted its stake in shares of Adicet Bio by 208.8% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock valued at $172,000 after purchasing an additional 154,037 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Adicet Bio by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after purchasing an additional 63,691 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Adicet Bio by 1.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock valued at $1,538,000 after purchasing an additional 36,277 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in shares of Adicet Bio by 33.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock valued at $49,000 after purchasing an additional 20,000 shares during the period. 83.89% of the stock is currently owned by institutional investors and hedge funds.

About Adicet Bio

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.